SunCrest Market Updates February 25, 2021

February SunCrest Market Update

What’s the 2021 real estate market going to look like?
In some ways, a lot like last year. Mortgage rates continue to hover at historic lows, and most forecasts have them remaining favorable throughout the year. The lack of homes for sale in SunCrest in 2020 looks to continue into this year as well.

What does this mean?
If you’re looking to buy in 2021, you’re going to have to be patient in your home search. It could take some time to find a house you love, and once you do, you’ll want to be ready to pounce. Having financing pre-approved and making a competitive offer will help, but in a shortage like this you may enter a bidding war and there won’t be much room for negotiation.

If you’re selling, SunCrest homes are in even higher demand from a workforce that no longer needs to commute. Putting your house on the market today means you’re likely in the driver’s seat. Whether it’s the price, moving date, or other items like repairs, inspections, or closing costs, smart sellers are able to request more from a potential buyer at a time like this – especially if you have multiple interested buyers and the experience to know what to ask for.

Our Take
Whether you’re buying, selling, or doing both, we expect 2021 to remain a busy year for real estate in SunCrest. Partnering with a neighborhood expert may help you navigate the complexities of this year’s bustling but challenging market. Have a question? Reach out, we’d love to help.